Senior Accountant

About TruAmerica

Founded in 2013, TruAmerica Multifamily is a privately held, fully integrated real estate investment firm specializing in multifamily properties across high-growth markets. With over 65,000 units in 25 markets and $17 billion in assets under management, we are recognized as one of the Top 25 apartment owners in the U.S. according to the National Multifamily Housing Council (NMHC). Our success is driven by a commitment to strategic acquisitions, redevelopment, and best-in-class property management.

Position Summary

Reporting to the Director of Accounting, the Senior Accountant is responsible for overseeing the monthly financial reporting process for assigned property management companies. This role reviews property-level financial statements, accruals, consolidations, management fee calculations, and cash management, prepares cash flow analyses and distributable cash calculations, completes capital improvement draws and capital calls, and manages interim and annual financial audit engagements.

Tasks and Responsibilities

Financial Reporting and Operational Budgeting

• Oversee the monthly financial reporting process for assigned Property Management Companies to ensure timely and accurate reporting.
• Review preliminary financial statements to confirm sub-ledgers (bank reconciliations, accounts receivable, accounts payable, escrow balances, gross potential rent, etc.) reconcile to financial reports.
• Review acquisition and disposition entries, including gain on sale, for accuracy and proper recordation.
• Review closing prorations for acquisitions and complete post-close reconciliations within purchase price allocation timelines.
• Reconcile capital expense bank accounts and provide reconciliations and general ledger activity to Property Management Companies.
• Verify operating and capital expenses are coded correctly.
• Communicate financial anomalies to Asset Managers and Property Management Companies and follow up as needed.
• Ensure business licenses, taxes, and insurance renewals are paid timely.
• Provide accurate monthly financial statements to joint venture partners in accordance with joint venture agreements.
• Provide required monthly, quarterly, and annual financial reporting to lenders and certifications to comply with loan requirements.
• Update Asset Management, Construction Management, and Accounting fee schedules monthly as part of the close process.
• Assist Asset Management and Portfolio Management with annual budget planning.
• Provide partnership and expense budget figures as requested by Asset Management.

Distributions to Joint Venture Parners

• Prepare monthly or quarterly cash flow reports to calculate distributable cash flow for each asset.
• Provide recommended distribution amounts to Asset Managers for approval.
• Distribute cash flow to joint venture partners and TruAmerica entities in accordance with joint venture agreements.
• Maintain preferred return and internal rate of return (IRR) schedules, including distribution and capital call tracking.

Draw Process and Capital Calls

• Update the internal Capital Expense Tracker at least monthly.
• Prepare and submit monthly or quarterly capital improvement draws and capital calls for unfunded commitments to lenders or limited partners.
• Verify inclusion of all unit renovation and exterior capital invoices paid by Property Management Companies.
• Include capital improvement invoices paid internally by Accounts Payable.
• Confirm receipt of funding from lenders or joint venture partners.
• Set up general partner funding and communicate completion to the Corporate Accountant.

Financial Audits, Tax Preparation, and Related Engagements

• Manage interim and annual financial audit engagements to ensure timely and accurate reporting.
• Coordinate with Property Management Companies to satisfy audit PBC requests and ensure adherence to timelines.
• Oversee engagement of ASC 805 purchase price allocation reporting and cost segregation studies.
• Assist CPA firms with tax preparation requests, including providing financial reporting, audited financials, and supporting schedules.
• Act as liaison between audit firms, tax firms, and limited partners as needed.
• Ensure limited partners receive audited financial statements, K-1s, and tax returns by required deadlines.

Abilities / Qualifications

• Bachelor’s degree in Accounting or Finance required.
• Experience with Yardi Voyager and/or RealPage required.
• Knowledge of GAAP, modified cash basis, tax basis, and cash basis accounting.
• 5 years of multifamily real estate accounting experience required.
• Ability to multitask and work independently with strong attention to detail and follow -through.
• Ability to meet deadlines in a fast-paced environment.
• Strong analytical skills and a collaborative, positive work style.
• Ability to communicate effectively with Property Management Companies, Asset Management, senior leadership, investors, and lenders.

Physical Demands

• Ability to sit for up to 10 hours per day.
• Ability to move freely around the office for up to 10 hours per day.
• Ability to communicate verbally and in writing.

Compensation

Base Salary: $100,000 – $120,000 (commensurate with experience.)

Equal Opportunity Employer

• TruAmerica Multifamily is an equal opportunity employer committed to diversity and inclusion in the workplace. We prohibit discrimination and harassment based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic under federal, state, or local laws.
• This policy applies to all employment practices, including hiring, promotion, termination, compensation, benefits, training, and internships. Hiring decisions are made based on qualifications, merit, and business needs.

No recruiters please.